Bắc Á Bank to debut 500m shares on UPCoM

HÀ NỘI — Bắc Á Bank will debut 500 million shares, an equivalent to charter capital of VNĐ5 trillion (US$219.3 million), on the Unlisted Public Company Market (UPCoM) on December 28 under the code BAB.

The reference price for the first trading day is set at VNĐ20,000 ($0.88) per share, which is allowed to fluctuate between +/-40 per cent, the Hà Nội Stock Exchange has announced.

This is the fourth joint-stock commercial bank trading stocks on UPCoM this year, following Việt Nam International Bank (VIB), KienLongBank (KLB) and LienVietPostBank (LPB).

VIB’s share is the most expensive on UPCoM, being traded at VNĐ23,500 per share, while a LPB share is valued at almost VNĐ13,000, and a KLB share price is nearly VNĐ10,000.

Ending September this year, the Nghệ An-based lender reported total assets of roughly VNĐ85.86 trillion, an increase of 13 per cent over the end of 2016. Its capital mobilisation reached VNĐ63.2 trillion during this period, up 8 per cent, and outstanding loans were VNĐ52.1 trillion, up 7 per cent compared to the start of 2017.

In the third quarters, its pre-tax profit reached VNĐ483 billion, up 25 per cent yearonyear. The bad debt ratio was 0.68 per cent, down from 0.8 per cent seen at the beginning of the year. — VNS